The president of South Africa's Chamber of Mines says that he anticipates the rand falling during the next year in a prediction that will hearten the platinum industry.

Con Fauconnier told Business Report that he thought the rand could fall by as much as ten per cent as the currency's yield premium shrinks.

"Next year the rand should be weaker, but not drastically, somewhere between R6.60 and R7.20 to the dollar," he commented.

The news is likely to hearten many in the pgm industry, as the current currency levels make it costly for investment in exploration and new projects.

With South African mining firms typically selling their output for dollars and paying the costs in rands, the oscillations of the currency are significant, as Implats finance director David Brown explained.

"At these rand levels it impinges on new projects and one would hope for a slightly softer rand,” he said.

"We're hoping for a rand of R7.50 to the dollar by June next year, but we're anticipating something more like R6.60 to R7."